Shareholders meeting

Date: August 21, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Symbol: MOBIKWIK Scrip Code: 544305 Sub: Annual Report of the Company for financial year 2025-26, inter-alia, including Notice of 18th Annual General Meeting (“AGM”) Dear Sir/ Madam, Pursuant to Regulations 30 and 34 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) read with Schedule III thereto, and in furtherance to our letter dated August 19, 2026, informing about convening of the 18th Annual General Meeting (‘AGM’) of the Company, please find attached herewith a copy of Annual Report including the Business Responsibility and Sustainability Report for the financial year 2025-26, which is being sent through electronic mode to those Members whose e-mail addresses are registered with the Company/Registrar to Issue & Share Transfer Agent (‘RTA’) / Depository Participant(s) (‘DPs’) / Depositories, inter-alia, including the Notice convening the 18th AGM of the Company scheduled to be held on Tuesday, September 22, 2026 at 11:00 A.M (IST) through Video Conferencing ('VC') )/other audio visual means (‘OAVM’), in accordance with the General Circular No. 14/2020 dated April 08, 2020 and subsequent circulars in this regard, latest being General Circular No. 03/2025 dated September 22, 2025, issued by the Ministry of Corporate Affairs (“MCA Circulars”) and applicable circulars issued by the Securities and Exchange Board of India, in this regard, from time to time. Notice of AGM and Annual Report are also available on the Company’s website at: Notice of the 18th AGM https://documents.mobikwik.com/files/investor-relations/meetings/agm- 2026/Notice-of-18th-Annual-General-Meeting.pdf?v=01.0121082026 Annual Report for https://documents.mobikwik.com/files/investor-relations/meetings/agm- Financial Year 2025-26 2026/Annual-Report-FY-25-26.pdf?v=01.0121082026 Further, a letter in compliance with Regulation 36(1)(b) of the Listing Regulations, will be sent to the Shareholders whose e-mail addresses are not registered with the Company / RTA / DPs / Depositories, providing web link and exact path from where the Annual Report for the financial year 2025-26 and Notice of the 18th AGM can be accessed on the website of the Company. The facility to cast vote by electronic means (through remote e-voting and e-voting at the AGM) on all the resolutions set out in the AGM notice, will be provided to the shareholders of the Company who are holding equity shares as on the cut-off date i.e. Tuesday, September 15, 2026. The remote e-voting will commence on Saturday, September 19, 2026 (09:00 a.m. IST) and ends on Monday, September 21, 2026 (5:00 p.m. IST). Detailed instructions, inter alia, for registering e-mail address(s) and e-voting/ attendance at the AGM are provided in the AGM notice. We request you to take the above on record. Thanking you, For One MobiKwik Systems Limited Ankita Sharma Company Secretary and Compliance Officer Membership No. ACS37518 Encl.: As attached ONE MOBIKWIK SYSTEMS LIMITED Registered Office: Unit No. 102, 1st Floor, Block-B, Pegasus One, Golf Course Road, Sector-53, Gurugram, Haryana-122003, India. Ph: +91 (124) 490-3344 | CIN: L64201HR2008PLC053766 | www.mobikwik.com| cs@mobikwik.com SCALING WITH PURPOSE. BUILT TO LAST. 4.92 Merchants 189.6 Users ANNUAL REPORT 2025-26 Contents CORPORATE OVERVIEW Theme Narrative 1 Founder’s Message 12 Board of Directors 14 Know Your Company 16 Our Performance 18 Key Performance Indicators 20 Payments Business 22 Financial Services 24 The Competitive Moat 28 The Blueprint 30 The Team 32 Governance 34 Corporate Information 40 STATUTORY REPORTS Director’s Report 42 Corporate Governance Report 64 Business Responsibility & Sustainability Reporting 87 Management Discussion & Analysis 123 FINANCIAL STATEMENTS Standalone Financial Statements 148 Consolidated Financial Statements 229 The Year Quality Became the Strategy. The Proof Began to Appear in the Financials. The Scale Foundation The Network Was Already Built Every platform business reaches an inflection point where scale stops being a milestone and starts being a foundation. MobiKwik reached that point in FY26. What the years before had built was something different: a distribution moat in the places others were still arriving at 189.6 Mn registered users and 4.92 Mn merchant partners. A transaction volume built entirely through organic adoption, in towns and cities across Tier 2 and Tier 3 India, where digital financial infrastructure was still arriving. In a single year, the Company expanded its merchant presence from 366 cities to 1,118 cities. That 3x expansion was the construction of a distribution advantage that compounds with every device deployed, every merchant onboarded, and every payment processed. FY26 was the year the Company learned to earn from the network it had already built. 02 Annual Report 2025-26 Corporate Statutory Financial Overview Reports Statements UPI: Building the Volume Engine Customer-initiated UPI transactions grew 170% year on year. More than six times the industry growth rate of 26%. This expansion was achieved at the lowest user incentive cost in the Company’s history: 0.02% of total Payments GMV. That number matters because it answers a question every institutional investor asks of every fintech platform: is the growth bought or earned? At 0.02% of total Payments GMV, the answer is unambiguous. This growth was driven by sustained user adoption, repeat usage and an improving product experience. It was earned through sustained product engagement. For MobiKwik, UPI serves a specific strategic purpose. Every payment expands the customer base. Every customer enriches the data layer. Every interaction creates the opportunity to deepen a financial relationship that begins with a payment and can extend into credit, savings and wealth. Volume is the beginning of value creation. One MobiKwik Systems Limited 03 The Economics were Re-Engineered 04 Annual Report 2025-26 Corporate Statutory Financial Overview Reports Statements Volume is table stakes in Indian digital payments. What FY26 proved is that MobiKwik could extract margin from the volume it already had. On stable revenue. With minimal incentives. Before the business got bigger. The mechanism was a series of deliberate operational choices that compounded across the year. Payment gateway costs fell from 48 basis points of GMV in FY25 to 29 basis points in FY26, reaching 23 basis points by Q4. This was achieved through sharper negotiations with banking partners, a higher share of transactions routed through Zaakpay, and an organic shift in the transaction mix towards lower-cost UPI rails. User incentive costs fell from 5 basis points to 2 basis points of GMV. Together, these two lines of cost compression absorbed the entire take-rate decline from 66 to 47 basis points, leaving the net payments margin at 16 basis points — above the Company’s own guidance band of 12 to 15 basis points. The result: payment gross profit of ₹2,867 Mn in FY26, up 90% year on year, while revenue held flat. In Financial Services, the transformation was sharper still. Gross margin expanded from 4% in Q4 FY25 to 59% in Q4 FY26. That is a re-engineering. Net financial services margin increased from 0.35% to 5.39% of digital credit GMV over four consecutive quarters. The gains were structural: better underwriting, a higher-quality borrower mix, and the maturing of newer loan cohorts that reflected the disciplined credit decisions made in every quarter of the year. Payments Gross Profit: ₹2,867 Mn — up 90% YoY, despite flat revenue Financial Services Gross Margin: expanded from 4% to 59% within a single year One MobiKwik Systems Limited 05 The Lending Engine Was Rebuilt From FIRST PrincipleS In early FY25, MobiKwik’s lending business was disbursing approx [Showing first 8,000 characters — download PDF for full document]